Technavio’s market research analysts estimate the global cPDM market in the fabrication and assembly industry to grow at a CAGR of around 9% between 2015 and 2019. The global cPDM market in fabrication and assembly industry is mainly driven by the increasing role of cPDM in the manufacture of industrial machinery. The Americas is the major revenue generating region of this market, accounting for around 37% of the overall market share. The region is home to most of the major fabrication and assembly companies. Also, the reshoring of manufacturing is expected to fuel the growth of the manufacturing industry in the Americas over the next four years.
The new market research report from Technavio provides a breakdown and analysis of the cPDM segments by technology.
“The market vendors are aiming towards minimising the PLM expenses by adopting the cloud-based PLM software. The cloud-based PLM helps to reduce the upfront costs for implementation as well as lowers the total cost of ownership. For instance, Wipro is providing cloud-based PLM services for Siemens’ Teamcenter through the deployment IaaS,” says Navin Rajedra, Lead Analyst, ICT, Technavio Research.
Vendors in the cPDM for fabrication and assembly market have expanded themselves from traditional services involving installation of software, to being an integral part of the service offering through real time monitoring of the product development phase. Many medium sized manufacturers are expected to adopt cPDM and increase their investments in the purchase of software and software licenses over the next four years.
The key players in the global cPDM market in the fabrication and assembly industry are Dassault Systèmes, PTC and Siemens. The leading companies in this market are looking to increase their market shares by offering innovative packages based on specific needs and requirements of manufacturers. As per this market forecast, many open-source vendors are predicted to enter the market and offer tough competition to commercial vendors during the forecast period.
A more detailed analysis is available in the Technavio report, Global cPDM Market in the Fabrication and Assembly Industry 2015-2019.
We can customize reports by other regions and specific segments upon request.
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